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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Oil boom and crisis in contemporary Nigeria
Author:Freund, BillISNI
Year:1978
Periodical:Review of African Political Economy
Volume:5
Issue:13
Pages:91-100
Language:English
Geographic term:Nigeria
Subjects:economic conditions
petroleum
External link:https://www.tandfonline.com/doi/abs/10.1080/03056247808703376
Abstract:The oil boom, which apparently began by benefiting Nigeria through a dramatic improvement in the terms of trade, can best be understood as advancing the role of Nigeria in the extended reproduction of the world capitalist system. Fundamental contradictions in Nigerian society have measurably widened in recent years with the growing possibility of intensified class conflict. 'Development' has, in reality, brought crisis. The article documents the consequences of the Nigerian government's spending boom in the 1970s as a result of the world oil boom. Sources, tab.
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